Lunchtime Links: What do bankers and looters have in common?

It's been a few weeks since the London riots and, while they're not a distant memory, they're certainly fading from the headlines somewhat. The City remained unscathed, as did, by and large, the more affluent boroughs many bankers call home.

At the time, some people, (ridiculously) blamed bankers for the unrest. Now, in a column on Forbes today, Lynda Gratton, an author and professor of management practice at LBS, has compared looters' behaviour with that of bankers (when it comes to pay, at least).

Both looters stealing the latest Nike sneakers and bankers awarding themselves large salaries and bonuses are indicative of a 'because I can' mentality, she surmises.

"Whether it's trainers or bonuses, it's about seizing the opportunity, making the most of today," writes Gratton.

It was situational values we saw played out this summer. Actions were taken based on the calculation of what is available in the here and now and then how best to exploit these short term opportunities - whether it is the Nike shoes in a looted shop, or bonuses in an industry that's used to dipping into the trillions that washes around it. It's about calculating what we can or cannot do in any given situation - and what we saw this summer in these two events was 'because I can'.

Sure, if your pals are picking up Nike shoes - you can do the same. And if the banking industry is paying out big bonuses this year again and you are a banker - you can do the same. The 'because I can' is essentially a question taking place in an amoral space. The calculation is 'can I do it?', 'Can I do it right now?' It's about making the best bet right now. So the emphasis is always on the short term and the optimization of current options.

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